minusonebit

Madame Speaker, I rise to introduce the Free Competition in Currency Act. This act would eliminate two sections of US Code that, although ostensibly intended to punish counterfeiters, have instead been used by the government to shut down private mints. As anti-counterfeiting measures, these sections are superfluous, as 18 USC 485, 490, and 491 already grant sufficient authority to punish counterfeiters.

The two sections this bill repeals, 18 USC 486 and 489, are so broadly written as to effectively restrict any form of private coinage from competing with the products of the United States Mint. Allowing such statutes to remain in force as a catch-all provision merely encourages prosecutorial abuse. One particular egregious recent example is that of the Liberty Dollar, in which federal agents seized millions of dollars worth of private currency held by a private mint on behalf of thousands of people across the country.

Due to nearly a century of inflationary monetary policy on the part of the Federal Reserve, the US dollar stands at historically low levels. Investors around the world are shunning the dollar, and millions of Americans see their salaries, savings accounts, and pensions eroded away by rising inflation. We stand on the precipice of an unprecedented monetary collapse, and as a result many people have begun to look for alternatives to the dollar.

http://www.house.gov/paul/congrec/co.../cr121307h.htm

GITZINGER

Hell, this guy is just crazy enough to get me to vote for him!!

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V_RocKs

The Federal Reserve is the Mint... It is a private corporation and it mints money with a profit. It OWNS the government.

marketsmart

It does not own the govt... the federal reserve is the biggest sham in history.

It charges the US interest on every cent it prints and releases into circulation..

needs a total overhaul if you ask me....

pocketkangaroo

No it doesn't. The federal reserve rebates the government its net earnings every year.

pocketkangaroo

I don't see how it "owns" the government. The President appoints the Board of Governors and can remove someone at any time. They are required to report to the Congress every year and be subject to independent audits. How is that "owning" the government?

ADL Colin

Was there a popular book at one time that spread all these federal reserve myths or something?

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pocketkangaroo

I think it's just a lot of websites and youtube videos.

tblake

Here is a book, ADL Colin, called "The Creature from Jyekll Island".

http://www.amazon.com/Creature-Jekyl.../dp/0912986212

It talks about how the Fed was created by big bankers and senators over a secretive week long stay on an island. I don't know how anything fair or good for the average people could come from something like that!

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tony286

man thats interesting.

dready

Watch this video if you want to know about the Federal Reserve:

http://video.google.com/videoplay?do...19560256183936

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EZRhino

I love it, the video was made in around 1995 but posted as if it was made this year. Around time index 3:35 Henry Pasquet says the end is near becuase dept relating to 1980 and now 15 years later its 5 times more. The tags at the end of the google discription point to conspiracy propaganda. Wow, did I miss this US collapse because it is 12 years later. Do they mean the US economy will collapse in soon in normal years or in geologic time?

dready

It's best to take these things with a grain of salt. Still an educational video.

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